Subject: Daily Current Affairs For the Month of August 2015, Complete July 2015 Power Capsule in PDF Download.

Category wise Updates:National:
NTPC inks agreement to form JV with Jharkhand for Patratu Power Plant
Operation Muskaan helped Gurgaon Police to trace over 1000 kids
Delhi Police force is slated to be the first in the country to introduce Taser guns and other non-lethal arms that will allow them to work without endangering lives.
"Bharat Parv” - The 13-day culture & cuisine festival that was inaugurated in New Delhi, being organized as a part of Independence Day celebrations.
Union Government extends term of Rajan S Katoch as Director of ED for 3rd time
The National Dairy Development Board NDDB wins award for geographical info system
Ministry of Rural Development launches ‘SAMANVAY’ portal for Gram Panchayats
Tamil Nadu had the highest use of LPG among rural households during 2011-12, as data from the 68th round of the National Sample Survey (NSS) on fuel used for cooking and lighting. According to this data, 67.3% of rural population in the country still used firewood for cooking in 2011-12.
Kochi (Kerala) naval harbour became the first in the country to get the Integrated Underwater Harbour Defence and Surveillance System (IUHDSS), an automated system capable of detecting, identifying, tracking and generating warning for surface and underwater threats.
The new simplified “Guidelines Governing Adoption of Children 2015” notified by the Central Government came into effect from 1 August 2015, CARINGS (Child Adoption Resource Information & Guidance System) is the name of the fully revamped IT application for the purpose of adoption of children.
Union Cabinet approves MoU between India, Nepal for construction of petroleum pipeline
India signs Financing Agreement with World Bank for NCRMP Projects.
Delhi state became the first in India to adopt a unique “Witness Protection Programme” so as to ensure protection of an eyewitness in crucial cases.
Union Govt. has earmarked Rs. 70,000 crore fund for country’s public sector banks (PSBs) over a period of four years .
PM Modi declares August 7 as National Handloom Day to mark Swadeshi movement.
India’s first Harbour Defence System commissioned in Kochi
India to host 2nd Forum for India-Pacific Islands Cooperation (FIPIC)
Delhi Government decided to have tram network in Old Delhi
Palakkad (Kerala), is the newest and the 18th Indian Institute of Technology (IIT) of the country was opened on 3 August 2015 with a total of 117 students.
NITI Aayog decided to set up expert group to draft Model Land Leasing Law
Union Government released Postal stamp on Ashoka
Justice M L Tahaliyani sworn in as Lokayukta of Maharashtra
Tata Trusts ink MoU with Andhra Pradesh Government to develop 264 Smart Villages
The birth centenary celebration of Rani Gaidinliu was inaugurated by Narendra Modi on 24 August 2015. On this occasion a commemorative coin was released to recall Rani’s contribution to India’s freedom struggle. Rani Gaidinliu was associated with Nagaland State.
Union Govt. divested 10% of its stake in Indian Oil Corporation
India to implement Sendai framework for Disaster Reduction 2015-2030
Narendra Modi announced a new campaign “Start-up India, Stand up India” during India’s 69th Independence Day. It is associated with Promoting banks to finance start-ups and offer incentives to boost entrepreneurship and job creation.
The Employees Provident Fund Organisation (EPFO) watershed event in the 64-year old history of India’s biggest pension fund .
“Suraksha Bandhan”, is the name given to this special drive Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
NIYATAM, The NITI Aayog has started an initiative to engage the states of the Indian Union on six important issues pertaining to governance and finance. This includes the initiative to prune their administrative structure to improve their efficiency and governance.
Maharashtra government declares Thane creek area as ‘Flamingo Sanctuary’
Mysuru (Mysore) city topped in the Swachh Bharat Rankings of 476 cities in India, in a survey conducted during 2014-15 by the Ministry of Urban Development, results of which were disclosed.
The report sharply indicted the Congress state government during that time for abandoning its duty to control the riots in which more than a thousand people were killed. Satyendra Narayan Sinha was the Bihar Chief Minister during that time.
Ram Nath Kovind (Bihar) and Acharya Dev Vrat (Himachal Pradesh) were appointed as the new Governors of Bihar and Himachal Pradesh.
21.23% is the total forest cover in India as per recently released India State of Forest Report-2013.
A research group at IIT Bombay (IITB) recently established country’s first pilot test-bed to use unused TV spectrum to provide broadband Internet connectivity.
“112” like '911' system of the United States, its note pertaining to Prime Minister Narendra Modi’s forthcoming Independence Day address to the nation, the Ministry of Information and Broadcasting (MIB) has sent a note about the proposed emergency response system (ERS) .
ESIC extends health insurance scheme to Arunachal Pradesh, Mizoram, Manipur.
National Handloom Day? – It was on 7 August in 1905 that the formal proclamation of the “Swadeshi Movement” was made at a massive meeting in the Calcutta Town hall.
Ram Nath Kovind, Acharya Dev Vrat appointed as Governors of Bihar, HP.
The Union Govt. recently allowed allowed single-brand retailers to operate across multiple platforms to operate in the country.
Union Cabinet to improve the financial position of state-run Bharat Sanchar Nigam Limited (BSNL) It gave its ‘in-principle’ approval for hiving off BSNL’s tower assets into a separate company
Kamayani Express (Between Mumbai and Varanasi) and Janata Express (between Rajendra Nagar and Mumbai), Which trains were involved in this accident.
Tirumala Venkateshwara Temple or Tirupati Balaji Temple (Andhra Pradesh), opened up a Demat account to accept donations from devotees in the form of shares and securities.
Union Cabinet approves proposal to sign agreement with UNESCO
Union Cabinet gives nod to Direct Release of Wages into bank accounts of MNREGA workers
End Poverty, Promote Prosperity and People’s well-being while protecting the Environment by year 2030 is the primary aim of the “17 Sustainable Development Goals” that form the crux of the new sustainable development agenda.
Central Government liberalises single-brand retail norms for non-resident entities
“Navachara Kaksh”, innovation museum opened in the Rashtrapati Bhavan campus, which was inaugurated by President Pranab Mukherjee.
Rajasthan signs MoUs for Rs 2,452-cr investments at the investment meet in New Delhi.
The discovery that dopamine, which is known as a happy hormone, can also kill cancer tumours, has put two Boost for 'Make in India': Foxconn to invest $5 billion in Maharashtra.
Jaipur (Rajasthan), India will host the heads of 14 island nations at the Forum for India-Pacific Islands Cooperation (FIPIC) on 21 August 2015.
Union Govt. and the Naga rebels led by the National Socialist Council of Nagalim-IM (NSCN-IM) . The treaty was signed by Thuingaleng Muivah, General Secretary of the NSCN-IM in presence of Prime Minister Narendra Modi. This treaty thus brings to end the ongoing peace talks between the Naga rebels and the Union Government. These talks had started in 1997.
Union Govt. stepped back from the controversy surrounding the draft Indian Financial Code (IFC) as it disowned the draft. It was disowned as the government felt that do not reflect the government’s views. The main controversy associated with this draft was It seeks to dilute the RBI’s powers to regulate the foreign exchange and government bond markets and set monetary policy.
Kolkata-born scientists Partha Dasgupta and Sujit Basu one of the most significant medical discoveries ever.
Two Indian siblings, 5-year-old Kandarp Sharma and 8-year-old Ritwika, became the youngest climbers to climb the Kalapathar peak in Nepal. Allahabad High Court (UP) - gave a landmark ruling that all government servants, elected representatives, Allahabad High Court said members of judiciary and any other persons who get any benefit or salary from the state exchequer or public fund should send their children to primary schools run by the state education board.
Minority Ministry Launches Online Application Management System (OAMS) for "Nai Roshni"
Government approves pact between India and Seychelles to curb black money
Himachal Pradesh Government launched RISHTA project
Bharat Stage IV (BS-IV) compliant vehicles though out the country from 1 April 2017: Ministry of Road Transport & Highways
Kochi airport becomes world’s first to operate on solar power
Narendra Modi visited Masdar the city of UAE which is world’s first zero-carbon and car-free smart city.
Small Farmers’ Agri Business Consortium (SFAC) has been mandated as the lead promoter of National Agriculture Market (NAM), the national e-market for agriculture commodities, as announced by the Department of Agriculture and Cooperation (DAC).
Tata Trusts to develop 264 villages in Vijayawada under Sansad Adarsh Gram Yojana(SAGY) initiative.
The Cochin International Airport (Kochi) was the First Indian airport became the first in the world to operate completely on solar power.
Government approves MoU between India and America to establish PACEsetter Fund
Indian Railways ink 4 MoUs with Union Power Ministry to save power, improve efficiency .
Coca-cola India signs Sourav Ganguly for 3-years as social ambassador
Amitabh Bachchan is now Maharashtra's Tiger ambassador
Acharya Dev Vrat sworn-in as 27th Governor of Himachal Pradesh
Government sanctioned 1,500-MW ultra mega solar power park for Andhra Pradesh.
ISRO fully commissioned and started commercial production of its indigenous titanium sponge plant at Chavara (Kerala), with this India has become the seventh country in the world producing titanium sponge commercially.Pratyaksha Hastaantarit Laabh (PAHAL) scheme has been acknowledged as the world’s largest cash transfer program (households) by the Guinness Book of World Records.
ISRO commissions Titanium Sponge Plant in Kerala
Kerala government announces State film awards 2014
Kochi first to join World Tourism Cities Federation (WTCF) Council“School Nursery Yojana”, the name of the new initiative launched by the Union Environment Ministry to bring students closer to nature, by involving them in raising of saplings in nurseries created in schools.
According to the Right to Education (RTE) Forum, approximately Over 98,000 primary schools across the country are managed by single teachers for all the classes.
Union Telecom minister Ravi Shankar Prasad in Bodh Gaya (Bihar) “Disha”, which facilitates easy learning of computers and Internet.
NTPC signed two MoUs for Skill Development
Odisha Cabinet gave nod to new Industrial Policy Resolution (IPR) 2015
War museums at Jaisalmer, Laungewala stations inaugurated.
The major recommendation of the government-constituted committee on Minimum Alternate Tax (MAT) for foreign institutional investors (FIIs) led by Justice A.P. Shah as disclosed by Union Finance Minister that FIIs should be granted relief on MAT for the period before 1 April 2015
Global oil prices sank to which low level during August 2015 for the first time in more than six years Below $40 a barrel
DJB commissioned 1st ever Hydro-power plant at Chilla
UNFCCC, MSSRF to work for conservation of coastal resources of Andhra Pradesh
Bangalore-Nanded Express train of the Indian Railway that met with a freak accident in the early hours when a truck carrying a granite boulder rammed into it killing six people.
Madhya Pradesh state would host the world’s largest 750 Mega Watts (MW) solar power station.
'Housing For All’: Centre identifies 305 cities, towns
PM Modi released digitally restored recordings of epic ‘Ramcharitmanas’
Kishore Biyani-led Future Consumer Enterprise Limited (FCEL) recently entered into a partnership with Rajasthan state government to exclusively operate 5,000 fair price shops under the public distribution system (PDS).
India became the fourth country after Russia, Great Britain and China to have a hotline (direct secure line of communication) with the US President.
Government frames policy for e-marketing of handloom products
The trainee IAS officers will now serve as assistant secretaries in different Union ministries before taking up postings in their respective state cadres
Government Issues Norms for Selection of CEOs and MDs of Smaller PSU Banks
Puducherry CM N Rangasamy launched Free Laptop Scheme
Union Government launches SAHAJ scheme for online release of new LPG connections
SC stays Rajasthan HC verdict declaring Santhara illegal
The first “Shahi-Snan” (royal bath) Kumbh Mela at Godavari River on the occasion of “Shravan Purnima” at Nasik.
'Erika' - The name of tropical storm that hit the Caribbean region including Dominican Republic and Haiti.
M. M. Kalburgi - The name of the Sahitya Akademi winner renowned Kannada writer who was shot dead by two unidentified assailants in Dharwad.
Taj Mahal becomes first monument in world to have Twitter account
Gujarat Govt declares ban on use of Plastic
Kerala Govt declares state as "Digital State"
Union Ministry of Home Affairs MHA to setup pan-India National Fingerprint Database
Tamil Nadu - State led in employment generation in manufacturing sector in the country in 2012-13, according to an analysis done by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Former Goa Chief Minister Digamber Kamat’s house was raided by the Enforcement Directorate . This raid was carried out in an alleged bribery case involving a Louis Berger US firm.
Sachin Tendulkar to be Maharashtra’s Tiger ambassador
Telangana Government launched Grama Jyothi Scheme across the state
51,000 ‘sisters’ get insurance as Rakhi gift in PM’s constituency
50th anniversary of the 1965 war with Pakistan was observed on 28 August 2015 with the country paying rich tributes to the brave soldiers of the Indian Union. India had captured which strategically important pass from Pakistan Haji Pir pass (J&K) important pass from Pakistan.
SEHAT - The Union Govt. launched a telemedicine initiative for rural areas in collaboration with Apollo Hospitals under which people can consult doctors through video link.
The Insurance Institute of India (III) celebrated Diamond Jubilee (60 years) of its foundation.
Aurangzeb Road, one of Delhi’s most elite addresses, will be renamed as Dr. APJ Abdul Kalam by the New Delhi Municipal Corporation (NDMC).
NTPC sets a record in single-day power generation
India losses solar case against US at WTO
2nd edition of the Forum for India-Pacific Islands Cooperation (FIPIC) Summit at Jaipur
India removed Iran from the list of countries put under the restricted visa category or the prior referral category (PRC) of countries.
Gillette India appoints Al Rajwani as managing director
Union Government gives nod to 6 new SEZ proposals
Union Government launches E-Payment Module to deposit compensatory levies into CAMPA Funds
Facebook awarded $21 million to Indian app developers under FbStart initiative.
Indian Govt. signed a $ 308.40 million finance agreement with the World Bank for National Cyclone Risk Mitigation Project-II (NCRMP-II). It is associated with reducing vulnerability to cyclone and other hydro-meteorological hazards of coastal communities in which six states of the country - Goa, Gujarat, Karnataka, Kerala, Maharashtra and West Bengal.
India Energy Security Scenarios (IESS) 2047, interactive energy scenario building tool that was launched by the NITI Aayog that aims to explore a range of potential future energy scenarios for India.
Union Govt. announced the list of 98 cities and towns selected under Smart Cities Mission. Uttar Pradesh has been allocated highest number of 13 cities in this coveted list.
The government of West Bengal has recently initiated swift documentation process for getting a Geographical Indication registration for the iconic Bengali dessert rosogolla, better known as rasgulla all over the country. This has been done as Odisha has claimed that the rosogolla was actually born in that State.
The Pune will host the Commonwealth Youth, Junior and Senior Weightlifting Championships.
PM inaugurates birth centenary celebrations of freedom fighter Rani Gaidinliu
ISRO successfully launches GSLV-D6 carrying GSAT-6 satellite
Rajasthan Government approved Arogya Rajasthan campaign will be held from December 2015 to March 2016.
Union Cabinet cleared 4 months extension for 7th Pay Commission
“Vidya Lakshmi” was the first dedicated portal for the benefit of students seeking educational loans that was launched by the Union Govt.
Govt releases smart cities list: 13 cities from UP, 12 from Tamil Nadu, 3 from Bihar included

Union Govt. released the religious census data of 2011.

Total population of the country stood at 121.09 crore in 2011

Hindus constitute 79.8% (96.63 crore) of the population

Muslims constitute 14.2% (17.22 crore) of the population

Christians constitute 2.3% (2.78 crore) of the population

Sikhs constitute 1.7%% (2.08 crore) of the population

Buddhists constitute 0.7% (0.84 crore) of the population

Jains constitute 0.4% (0.45 crore) of the population

The proportion of Hindu population to total population declined by 0.7 percentage point (PP)

The proportion of Muslim population to total population increased by 0.8 PP

The share of Hindus in the population has slipped below 80% for the first time

Muslims are the only community to register a growth in their share of the population

The growth rate of Muslims is the highest at 24.6%. Hindus follow with a 16.8 per cent growth rate; Christians come next with 15.5 per cent. The growth rates of Sikhs, Buddhists and Jains are less than 10 per cent.

However, the rate of increase for Muslim community has reduced from the previous decade, when the Muslim share in the population had increased by 1.73%

Christians are the only community (among major religions) in India that has more women members than men

International:
Egypt launches Suez Canal expansion.
IS seizes central Syrian town of Qaryatain.
“Komen” is the name of the cyclone that resulted in heavy rains in West Bengal, Manipur, Odisha and other Eastern states of the country.
South Sudan became the latest and the 206th member of the Olympic family after the International Olympic Committee (IOC) approved its inclusion.
Afghan Taliban Mullah Akhtar Mansoor announced as the new leader of the Taliban after confirmed the death of their leader Mullah Mohammad Omar.
Cyclone Komen makes landfall in Bangladesh
Pakistan became the first-ever non-European member of the European Organisation for Nuclear Research, better known as CERN.
Egypt and Saudi Arabia are two Arab countries proposed to work together to create a joint Arab military force with the objective of ensuring stability in the region.
Asia’s biggest telescope MAST inaugurated at Udaipur Solar Observatory in Rajasthan
The Red Sea and the Mediterranean Sea, This new waterway thus became the third on the Suez Canal, which acts as the fastest link between Asia and Europe. Suez Canal connects.
Singapore observed 50th anniversary of its independence on 9 August 2015 with holding of numerous events across the country to mark the special occasion.
Malaysia Prime Minister Najib Razak confirmed, the wing of this aircraft was found on Reunion Island of Indian Ocean.
North Korean government on 7 August 2015 announced that it will establish its own time zone from 15 August by pulling back its current standard time by 30 minutes. Currently, local time in both Koreas and Japan are same and was set when the then single Korea was under Japanese colonial rule from 1910 to 1945. the reason given by the government for this change To root out the legacy of the Japanese colonial occupation period
Typhoon Soudelor name of the cyclonic typhoon that hit Taiwan and entered Mainland China.
Libya's internationally recognised government was uncertain Wednesday after Prime Minister Abdullah al-Thani said he would resign.
North Korea’s vice premier 'Choe Yong Gon' was executed by firing squad this year. He was apparently executed for showing discontent with the policies of the country’s leader Kim Jong Un. What was the name of this North Korean vice premier.
China’s currency Yuan’s value was devalued to its lowest rate against the US dollar in almost three years by China’s central bank . A day later China further lowered its “daily fix” of the Yuan. To make Yuan’s exchange rate more market-oriented and make Chinese exports cheaper was the primary objective of this depreciation.
Bankok in South-East Asian capital on 17 August 2015 witnessed a huge explosion resulting in the death of over 20 people and over 100 injured.
Tianjin the name of the Chinese port due to an inferno and two huge explosions resulting in the death of at least 104 persons and hundreds still missing.
The White House has appointed its first openly transgender staff member. Raffi Freedman-Gurspan
Pakistan bans Islamic State militant group.
Kazakhstan To Host First Nuclear Fuel Bank
Greece's caretaker government sworn in with first female prime minister
UK to fund Kolkata's climate action programme
Scientists have rejected the recent claims of lab-grown mini human brain, as claimed by a neuroscientist at Ohio State University in Columbus, called Rene Anand.
Goni - The name of the cyclonic storm that battered Japan with wind speeds of over 250 km/ hr. after large-scale destruction in the Philippines.
Ranil Wickremesinghe of United National Party (UNP) sworn in as Prime Minister of Sri Lanka
Just before the NSA-level talks with Pakistan, Union Govt. placed separatist leaders of Kashmir Syed Ali Shah Geelani, Mirwaiz Umar Farooq and Yasin Malik kept under house arrest and later released them. These leaders were scheduled to attend a reception in New Delhi hosted by Pakistan High Commission for its National Security Advisor, Sartaj Aziz.
Greek Prime Minister Alexis Tsipras submitted his resignation to the country’s president To facilitate early elections and strengthen his hold on power in snap elections
US launches biggest NATO airborne drills since Cold War in Europe
70th anniversary of the dropping of first atomic bomb on the Japanese city of Hiroshima is being observed on 6 August 2015.
Sebastian Coe (Britain) - The new President of the International Amateur Athletics Federation (IAAF), the global governing body for athletics, Adille Sumariwalla became the first-ever Indian to be chosen as one of the members
Anupam Kher Unlocks Another Achievement, Named Advocate For UN's Gender Equality Campaign

India - World:
India - Australia: Australian government appoints Adam Gilchrist ambassador to India for education
India - Nepal: In an important development in Nepal, country’s four major parties reached a landmark agreement on the contentious issues of federalism under the new constitution. According to the reached agreement, the country will be divided into Six provinces.
India - Canada: India’s social security pact with Canada comes into force.
India - Australia: MoU on Cooperation in the Fields of Education, Training and Research.
India - Bangladesh: At one minute after midnight of 1 August 2015 transferred exactly 162 such enclaves.
India - Mozambique: MoU to boost ties in New and Renewable Energy sector ILO, FICCI ink MoU to boost MSME productivity

RBI suspended licence of seven non-banking finance companies (NBFCs)
The Reserve Bank of India (RBI) paid a dividend of nearly Rs. 66,000 crore to the government. This was the highest ever dividend paid by the RBI in its 80-year history. The Interest from Repo operations, coupon payments for holding govt. securities and interest incomes on its holdings of sovereign bonds are the main sources of RBI’s income.
The Insurance Regulatory and Development Authority of India (IRDA) announced It allowed banks to tie up with up to 9 insurance companies to change for Indian banks under the policy of open architecture Bancassurance policy.
HDFC to sell its 9 percent stake in HDFC life to JV partner Standard Life for Rs. 1700 Crore
Axis Bank launched the First Multi-Currency Contactless Card service in India
IDBI appointed Kishor Piraji Kharat as its MD and CEO.
RBI granted its in-principle approval to setting up Payments Banks to 11 entities and individuals. The RBI had received 41 applications for payments banks by end of deadline in February this year. The 11 entities and individuals to get approval for payments bank are – 1) Aditya Birla Nuvo, 2)Airtel M Commerce Services, 3) Cholamandalam Distribution Services, 4) Department of Posts, 5) Fino PayTech, 6) National Securities Depository Ltd (NSDL), 7) Reliance Industries, 8) Tech Mahindra, 9) Vodafone m-pesa (Entities) and 10) Dilip Shanghvi and 11) Vijay S. Sharma (Individuals)
SIDBI launched two new funds primarily for small entrepreneurs and start-ups. They are – India Aspiration Fund (IAF) and SIDBI Make In India Loan For Enterprises (SMILE)
SBI Buddy - The name of the m-wallet (mobile wallet) application of State Bank of India .
HDFC Bank ties up with Snapdeal for co-branded credit card
“Kotak Bharat” is the name of the mobile banking app of Kotak Mahindra Bank (KMB).
BNP Paribas SA, multi-national bank is to acquire Indian retail brokerage firm Sharekhan Limited.
HDFC Bank has launched ‘Dhanchayat’, an educational film to raise awareness on the dangers of borrowing money from unorganised sources.
India’s oldest mutual fund house UTI Mutual Fund recently achieved what major milestone pertaining to its mutual fund assets, Its asset base crossed the one lakh crore rupees mark recently.
HSBC India plans to launch ‘green bonds’
IDFC Bank to start operations from October
Pramerica buys Deutsche Bank’s mutual fund business in India.
SBI Mutual Fund mutual fund the newly initiated investment of EPFO has been done initially in equities.
SBI net profits for the first quarter of 2015-16 was Rs. 3,692 cr.
ICICI Bank launches ‘Saral-Rural Housing Loan’ Scheme for weaker sections
NABARD accredited by UN’s Green Climate Fund as National Implementing Entity.
RBI intervened by selling US dollars through PSU banks after Rupee’s value slid to almost 23-month low .
LIC launches maiden unit linked insurance plan (ULIP)
‘Smart Vault’ - The First Fully automated digital locker launched by ICICI Bank.
HDFC Bank throws gauntlet, cuts base rate by 0.35%
Indian Bank launches IndPay mobile app service
SEBI to review surveillance systems; fast-track enforcements
LIC salvaged the 10% stake sale of Indian Oil Corporation by buying as much as 86% shares on offer.
ICICI private-sector bank launched India’s first home loan backed by mortgage guarantee that will allow consumers to increase borrowing as well as the paying tenure.
RBI okays re-appointment of Rana Kapoor as YES Bank MD, CEO
R Gandhi committee of RBI recommends conversion of UCBs into regular banks
India has forex reserves to stabilise currency volatility: RBI
Bandhan Bank a private bank became the newest bank in India as it rolled out its services in on 23 August 2015, Till opening of Bandhan Bank Yes Bank was the last entrant into India’s banking sector.

Indradhanush Mission:
'Indradhanush' the name of the 7-pronged strategy announced by the Union
Finance Ministry that aims for comprehensive revamp of public sector
banks of the country.

Facts about Indradhanush Mission:

The seven shades of Indradhanush mission include appointments, de-stressing PSBs, capitalisation, empowerment, framework of accountability and governance reforms. It seeks to achieve the objective of economic growth revival through improving credit and minimising the political interference in the functioning of PSBs.

1. Appointments: Selection of non-executive chairman in remaining 6 state owned PSBs till November 2015. Appointing MD & CEO of two PSBs as early as possible.

2. Bank Board Bureau (BBB): It will be a body of ’eminent’ professionals to be selected within 6 months i.e. February 2015. It will become functional from Financial year 2016-17 i.e. form 1st April 2016.

3. Capitalisation: Infuse 25,000 crore rupees of capital into debt-laden banks in this fiscal in phased manner. Out of this 20,000 crore rupees would be injected in August 2015. Rest 5,000 crore rupees will be performance based allocation to be allocated in the last quarter of 2016.

4. De-stressing PSBs: To develop vibrant debt market for PSBs in order to reduce lending pressure on banks. Strengthen asset reconstruction of companies.

6. Framework of accountability: It will seek to streamline vigilance process for quick action in case major frauds and also include connivance of staff.

7. Governance reforms in PSBs: Next Gyan Sangam (also known as the Banker’s Retreat) will be held from 14 to 16 January 2016. Employee Stock Option Plan (ESOP) will be initiated for top management.

Bank Board Bureau:
Union Government to form Bank Board Bureau (BBB) to monitor key performance indicators of two dozen public sector banks (PSBs), as part of a seven-pronged revamp plan for PSBs dubbed as Indradhanush (rainbow) plan.

Facts about Bank Board Bureau:

Bank Board Bureau (BBB) will start the functioning from next financial year i.e. from 1st April 2015 and the selection of its member will start in the next six months.

It will replace existing system Appointments Board in which appointments for top level jobs at PSBs are made by an appointments committee led by the Reserve Bank of India (RBI) Governor.

Composition: The BBB will be a body of ’eminent’ professionals and shall consist of only one government official. It will be six members body with at least 3 former bankers, 2 professionals and secretary, department of financial services representing government.

Functions: Give recommendations for appointment of full-time Directors as well as non-Executive Chairman of PSBs.

Give advice to PSBs in developing differentiated strategies for raising funds through innovative financial methods and instruments and to deal with issues of stressed assets.

Guide banks on mergers and consolidations.

Sports:
India’s Anil wins gold medal in Cadet Wrestling World Championships
OP Jaisha sets new marathon national record at World Athletics Championships, ensures 2016 Rio Olympic spot
2015 World Athletics Championships: Bolt, Jamaica triumph in 4x100m final.
Barcelona's Lionel Messi wins UEFA Best Player in Europe award
Usain Bolt beats Justin Gatlin in World Championships 200m final.
Usain Bolt of Jamaica retain the world 100m title at IAAF World Championships at Beijing’s Nest Stadium, He thus defeated the clear favourite Justin Gatlin (US) by one hundredth of a second in 9.79 seconds.
Jamaican Shelly-Ann Fraser retained Women’s 100 meters gold at World Championships in Athletics
Golfer Aditi Ashok first Indian to win Ladies British amateur stroke-play Championship
Serena Williams won Cincinnati Masters Women’s Singles title for second time and Roger Federer won Cincinnati Masters Men’s Singles tennis title for record seventh time
Pro Kabaddi League 2015: U Mumba crowned champions after thrilling win over Bengaluru Bulls in final
The sports of “Flying Disc” (“Frisbee”) was Sports based on flying disc have been given official recognition by the International Olympic Committee (IOC).
Delhi's specially-abled athletes win 7 medals at Summer Games.
Bangladesh defeated defending champions India 4-2 in penalties and lifted South Asian Football Federation U-16 title.
India’s Prabhroop Sekhon wins two golds in Special Olympics World Games
Pankaj Advani bags 13th World Snooker Championship.
Beijing, city became the first city in Olympic history to be awarded both summer and winter Games after it was awarded the hosting of the 2022 Winter Olympics .
Cricketer Ravichandran Ashwin presented with Arjuna Award.
India women’s team wins silver in World Archery Championship
Sania Mirza to be conferred Rajiv Gandhi Khel Ratna
5 Gold, 5 Silver and 7 Bronze: India top Asian Youth Chess Championship with 17 medals
Indian badminton ace Saina Nehwal lost to World No.1 Carolina Marin (Spain) in the finals of the prestigious Badminton World Championships in Jakarta . Despite this loss, Saina became the first Indian to reach the final of Badminton World Championship.
Abhishek Verma wins gold medal in Archery World Cup
Anirban Lahiri - The Indian golfer created history by becoming the first from the country to finish inside the top-five of a Major golf tournament.
Andy Murray wins Rogers Cup Masters Tournament 2015
Back as world No. 1, Saina Nehwal signs Rs 25 crore deal
Badminton World Championship 2015: Saina Nehwal wins silver medal
Novak Djokovic new UNICEF goodwill ambassador
Dilip Vengsarkar elected president of cricket statisticians body
Vikas Gowda enters discus final at World Athletics Championships.

Rashtriya Khel Protsahan Puruskar 2015:
Directorate General of Military Training (DGMT) – for identifying and nurturing of young talent in sports
Coal India Limited (CIL) – for encouraging sports through Corporate Social Responsibility
Haryana State Police- For employing sportspersons and sports welfare measures
Sports Coaching Foundation (SCF)- For development of sports.

Economy:
Pramerica, mutual fund house acquired the asset management business of Deutsche Bank in India.
Alibaba to invest INR 4000 crore in Paytm
Murugappa Group to form new Joint venture with Japan-based Organo
Volkswagen (Germany) automobile group replaced Japanese auto giant Toyota to emerge as the world’s largest-selling vehicle maker in the first half of 2015.
General Motors announced plans to invest $1 billion in India by 2020. Talegaon plant in Maharashtra.
“S-Cross”, is the name of the new crossover vehicle launched by Maruti Suzuki.
Chinese smartphone company Xiaomi announced its first manufacturing unit in India at Andhra Pradesh. Xiaomi’s first-ever “Made in India” smartphone “Redmi 2 Prime” was also launched on this occasion. This plant is established at Sri City in AP.
Indian economy is witnessing some early signs of survival, an important trend pertaining to Indian industrial scenario was reflected in a latest survey by the Confederation of Indian Industry’s Associations’ Council (CII ASCON).
Global electronic manufacturing giant Foxconn, known for manufacturing iPhones for Apple Inc., signed agreement with Maharashtra government for investing over US$ 5 billion over the next five years.
Thomas Cook (India) Ltd buys Sri Lankan firm Luxe Asia Pvt. Ltd
Thomas Cook (India) Limited announced acquiring Kuoni Group’s travel businesses in India and Hong Kong for Rs. 535 crore. The deal includes outbound travel brand SOTC and destination management brand SITA. Prem Watsa India-born entrepreneur backs Thomas Cook (India) Ltd.
Airtel acquires YTS for mobile payment solutions.
Airtel commercially Launches India’s first 4G services across 290 cities
Airtel acquires Augere to strengthen 4G Operations
Indian e-commerce giant Flipkart launched a new tool ‘Ping’ that blends social-networking with shopping so as to make online shopping a more social affair.
MCX, Gift ink pact for trading platform
Uber Cabs tied-up with Bharti Airtel to set up WiFi hotspots in each of its cabs
YouTube announces partnership with Whistling Woods to set up “YouTube Space” in Mumbai
Bombay Stock Exchange has instituted new system Suspicious Transaction Reports (STRs) for reporting suspicious trades in order to check money laundering through stock markets.
Android 6.0 Marshmallow - The New Google’s Android mobile operating system’s .
India’s most popular scooter – the Honda Activa, achieved First ever scooter brand to cross sale figure of 1 crore units.
Uninor signed worth Rs 1,200 cr contract with Huawei for modernising its network.
Hero Cycles acquires leading UK-based Avocet Sports
Birla Corp to acquire Lafarge’s two Indian units for Rs. 5000 crore
IndiGo the Indian airline signed a huge $26.55 billion order for purchasing 250 aircrafts from Europe’s Airbus company, which is the largest ever order (by volume) for Airbus.
Hindustan Unilever Sun Pharma Industries and Tata Consultancy Services (TCS) among the world’s top 100 innovative Companies by Forbes

Appointments & Resignations:
Folger appointed MD, CEO of Mercedes-Benz India
Amol Palekar appointed chairman of India’s Oscar jury
Noted academician Amitabh Mattoo appointed as Advisor to J&K CM Mufti Mohammad Sayeed
Union Government appoints two private sector professionals to head Private Members For BoB, Canara Bank, P S jayakumar: MD and CEO of Bank of Baroda (BoB), and Rakesh Sharma: MD and CEO of Canara Bank.
Ajit Seth to head Public Enterprises Selection Board
Snapdeal appoints Amitava Ghosh as VP-engineering.
Accenture India appoints Rekha Menon as chairman, Anindya Basu as MD.
Atul Keshap, Indian-American diplomat was recently confirmed as the U.S. Ambassador to Sri Lanka and Maldives and thus became the second Indian-origin diplomat to be posted to the South Asian region after Richard Rahul Verma.
Sanjay Jalona appointed as MD and CEO for L&T Infotech.
Google as its fully owned subsidiary. Google Alphabet be the name of the newly formed holding company, Google as its CEO Sundar Pichai
President appoints Om Prakash Rawat as Election Commissioner
Indian-American Atul Keshap confirmed Ambassador to Sri Lanka.
S K Roy, Chairman LIC was elected as the new Chairman of the Life Insurance Council, the apex industry body of insurers in India.
SEBI appointmented of Arun P Sathe, elder brother of Lok Sabha Speaker Sumitra Mahajan, recently came into controversy after his appointment.

Deaths:
Colonel Harwant Singh (Retd), World War-II hero passes away.
US country singer Lynn Anderson passes away
O.P. Munjal, who passed away, was the founder and Chairman of Hero Cycles.
Eminent Sanskrit Scholar and Indologist NR Varhadpande passed away
Former Australian Cricketer Arthur Morris passes away
Sir Peter O’Sullevan who passed away during July 2015 at the age of 97, was an iconic British commentator associated with Horse Racing.
President Pranab Mukherjee’s wife 'Suvra Mukherjee' and India’s First Lady passed away .

Books:
‘Mrs Funnybones’ is the name of the first book of which noted personality whose column by the same name is hugely popular by Twinkle Khanna
Book - The Kumbh Mela: Mapping the Ephemeral Megacity authored by Tarun Khanna released by Akhilesh yadav.
Igniting minds: Kalam’s books fly off the shelves

Important Dates:
August 07th - National Handloom Day.
August 19th - World Photography Day.

Day wise Daily Updates: 31/08/2015:

India to remain fastest growing major economy for second straight quarter

50th anniversary of the 1965 war with Pakistan was observed on 28 August 2015 with the country paying rich tributes to the brave soldiers of the Indian Union. India had captured which strategically important pass from Pakistan Haji Pir pass (J&K).

SEHAT - The Union Govt. launched a telemedicine initiative for rural areas in collaboration with Apollo Hospitals under which people can consult doctors through video link.

Aurangzeb Road, one of Delhi’s most elite addresses, will be renamed as Dr. APJ Abdul Kalam by the New Delhi Municipal Corporation (NDMC).

29/08/2015:

NTPC sets a record in single-day power generation

India losses solar case against US at WTO

Gillette India appoints Al Rajwani as managing director

50th anniversary of the 1965 war with Pakistan was observed on 28 August 2015 with the country paying rich tributes to the brave soldiers of the Indian Union. Exactly 50 years back, India had captured which strategically Haji Pir pass (J&K) important pass from Pakistan.

The Union Govt. launched a telemedicine initiative for rural areas in collaboration with Apollo Hospitals under which people can consult doctors through video link - SEHAT.

Introducing Fortune's Change the World list: Companies that are doing well by doing good

Barcelona's Lionel Messi wins UEFA Best Player in Europe award

Usain Bolt beats Justin Gatlin in World Championships 200m final.

Union Govt. announced the list of 98 cities and towns selected under Smart Cities Mission. Uttar Pradesh has been allocated highest number of 13 cities in this coveted list.

LIC salvaged the 10% stake sale of Indian Oil Corporation by buying as much as 86% shares on offer.

India Energy Security Scenarios (IESS) 2047, interactive energy scenario building tool that was launched by the NITI Aayog that aims to explore a range of potential future energy scenarios for India.

ICICI private-sector bank launched India’s first home loan backed by mortgage guarantee that will allow consumers to increase borrowing as well as the paying tenure.

Indian e-commerce giant Flipkart launched a new tool ‘Ping’ that blends social-networking with shopping so as to make online shopping a more social affair.

The government of West Bengal has recently initiated swift documentation process for getting a Geographical Indication registration for the iconic Bengali dessert rosogolla, better known as rasgulla all over the country. This has been done as Odisha has claimed that the rosogolla was actually born in that State.

The Pune will host the Commonwealth Youth, Junior and Senior Weightlifting Championships.

The proportion of Hindu population to total population declined by 0.7 percentage point (PP)

The proportion of Muslim population to total population increased by 0.8 PP

The share of Hindus in the population has slipped below 80% for the first time

Muslims are the only community to register a growth in their share of the population

The growth rate of Muslims is the highest at 24.6%. Hindus follow with a 16.8 per cent growth rate; Christians come next with 15.5 per cent. The growth rates of Sikhs, Buddhists and Jains are less than 10 per cent.

However, the rate of increase for Muslim community has reduced from the previous decade, when the Muslim share in the population had increased by 1.73%

Christians are the only community (among major religions) in India that has more women members than men

Rashtriya Khel Protsahan Puruskar 2015
Directorate General of Military Training (DGMT) – for identifying and nurturing of young talent in sports
Coal India Limited (CIL) – for encouraging sports through Corporate Social Responsibility
Haryana State Police- For employing sportspersons and sports welfare measures
Sports Coaching Foundation (SCF)- For development of sports.

25/08/2015:

The birth centenary celebration of Rani Gaidinliu was inaugurated by Narendra Modi on 24 August 2015. On this occasion a commemorative coin was released to recall Rani’s contribution to India’s freedom struggle. Rani Gaidinliu was associated with Nagaland State.

Union Govt. divested 10% of its stake in Indian Oil Corporation

Bangalore-Nanded Express train of the Indian Railway that met with a freak accident in the early hours when a truck carrying a granite boulder rammed into it killing six people.

Madhya Pradesh state would host the world’s largest 750 Mega Watts (MW) solar power station.

Goni - The name of the cyclonic storm that battered Japan with wind speeds of over 250 km/ hr. after large-scale destruction in the Philippines.

NITI Aayog decided to set up expert group to draft Model Land Leasing Law

Bandhan Bank a private bank became the newest bank in India as it rolled out its services in on 23 August 2015, Till opening of Bandhan Bank Yes Bank was the last entrant into India’s banking sector.

Usain Bolt of Jamaica retain the world 100m title at IAAF World Championships at Beijing’s Nest Stadium, He thus defeated the clear favourite Justin Gatlin (US) by one hundredth of a second in 9.79 seconds.

The major recommendation of the government-constituted committee on Minimum Alternate Tax (MAT) for foreign institutional investors (FIIs) led by Justice A.P. Shah as disclosed by Union Finance Minister that FIIs should be granted relief on MAT for the period before 1 April 2015

The Cochin International Airport (Kochi) was the First Indian airport became the first in the world to operate completely on solar power.

Scientists have rejected the recent claims of lab-grown mini human brain, as claimed by a neuroscientist at Ohio State University in Columbus, called Rene Anand.

Global oil prices sank to which low level during August 2015 for the first time in more than six years Below $40 a barrel

DJB commissioned 1st ever Hydro-power plant at Chilla

UNFCCC, MSSRF to work for conservation of coastal resources of Andhra Pradesh

Syrian woman Journalist Zaina Erhaim wins 2015 Peter Mackler Award

India has forex reserves to stabilise currency volatility: RBI

Amol Palekar appointed chairman of India’s Oscar jury

Serena Williams won Cincinnati Masters Women’s Singles title for second time and Roger Federer won Cincinnati Masters Men’s Singles tennis title for record seventh time

Pro Kabaddi League 2015: U Mumba crowned champions after thrilling win over Bengaluru Bulls in final

Golfer Aditi Ashok first Indian to win Ladies British amateur stroke-play Championship

Former Australian Cricketer Arthur Morris passes away

22/08/2015:

2nd edition of the Forum for India-Pacific Islands Cooperation (FIPIC) Summit at Jaipur

India removed Iran from the list of countries put under the restricted visa category or the prior referral category (PRC) of countries.

Greek Prime Minister Alexis Tsipras submitted his resignation to the country’s president To facilitate early elections and strengthen his hold on power in snap elections

Kishore Biyani-led Future Consumer Enterprise Limited (FCEL) recently entered into a partnership with Rajasthan state government to exclusively operate 5,000 fair price shops under the public distribution system (PDS).

India became the fourth country after Russia, Great Britain and China to have a hotline (direct secure line of communication) with the US President.

The trainee IAS officers will now serve as assistant secretaries in different Union ministries before taking up postings in their respective state cadres

Government Issues Norms for Selection of CEOs and MDs of Smaller PSU Banks

Puducherry CM N Rangasamy launched Free Laptop Scheme

Uber Cabs tied-up with Bharti Airtel to set up WiFi hotspots in each of its cabs

Government frames policy for e-marketing of handloom products

Back as world No. 1, Saina Nehwal signs Rs 25 crore deal

21/08/2015:

“Vidya Lakshmi” was the first dedicated portal for the benefit of students seeking educational loans that was launched by the Union Govt.

Just before the NSA-level talks with Pakistan, Union Govt. placed separatist leaders of Kashmir Syed Ali Shah Geelani, Mirwaiz Umar Farooq and Yasin Malik kept under house arrest and later released them. These leaders were scheduled to attend a reception in New Delhi hosted by Pakistan High Commission for its National Security Advisor, Sartaj Aziz.

Former Goa Chief Minister Digamber Kamat’s house was raided by the Enforcement Directorate . This raid was carried out in an alleged bribery case involving a Louis Berger US firm.

‘Mrs Funnybones’ is the name of the first book of which noted personality whose column by the same name is hugely popular by Twinkle Khanna

Sebastian Coe (Britain) - The new President of the International Amateur Athletics Federation (IAAF), the global governing body for athletics, Adille Sumariwalla became the first-ever Indian to be chosen as one of the members.

SIDBI launched two new funds primarily for small entrepreneurs and start-ups. They are – India Aspiration Fund (IAF) and SIDBI Make In India Loan For Enterprises (SMILE)

Raffi Freedman-Gurspan, was the name of the first openly transgender White House staff member.

Ashwani Lohani, a tourism veteran, to steer Air India

Government approves pact between India and Seychelles to curb black money

Bharat Stage IV (BS-IV) compliant vehicles though out the country from 1 April 2017: Ministry of Road Transport & Highways

Australian government appoints Adam Gilchrist ambassador to India - for education

19/08/2015:

SBI Buddy - The name of the m-wallet (mobile wallet) application of State Bank of India .

Allahabad High Court (UP) - gave a landmark ruling that all government servants, elected representatives, members of judiciary and any other persons who get any benefit or salary from the state exchequer or public fund should send their children to primary schools run by the state education board. ‘Smart Vault’ - The First Fully automated digital locker launched by ICICI Bank.

Finance Minister launches two funds for promoting MSMEs and Start-ups the India Aspiration Fund (IAF) and SIDBI Make in India Loan for Enterprises (SMILE) under Small Industries Development Bank of India (SIDBI).

LIC launches maiden unit linked insurance plan (ULIP)

Bombay Stock Exchange has instituted new system Suspicious Transaction Reports (STRs) for reporting suspicious trades in order to check money laundering through stock markets.

Book - The Kumbh Mela: Mapping the Ephemeral Megacity authored by Tarun Khanna released by Akhilesh yadav.

The White House has appointed its first openly transgender staff member. Raffi Freedman-Gurspan

Narendra Modi visited Masdar the city of UAE which is world’s first zero-carbon and car-free smart city.

Bankok in South-East Asian capital on 17 August 2015 witnessed a huge explosion resulting in the death of over 20 people and over 100 injured.

Small Farmers’ Agri Business Consortium (SFAC) has been mandated as the lead promoter of National Agriculture Market (NAM), the national e-market for agriculture commodities, as announced by the Department of Agriculture and Cooperation (DAC).

IndiGo the Indian airline signed a huge $26.55 billion order for purchasing 250 aircrafts from Europe’s Airbus company, which is the largest ever order (by volume) for Airbus.

Anirban Lahiri - The Indian golfer created history by becoming the first from the country to finish inside the top-five of a Major golf tournament.

Tamil Nadu - State led in employment generation in manufacturing sector in the country in 2012-13, according to an analysis done by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

RBI suspended licence of seven non-banking finance companies (NBFCs)

IDBI appointed Kishor Piraji Kharat as its MD and CEO

Sachin Tendulkar to be Maharashtra’s Tiger ambassador

Union Government appoints two private sector professionals to head Private Members For BoB, Canara Bank, P S jayakumar: MD and CEO of Bank of Baroda (BoB).

and Rakesh Sharma: MD and CEO of Canara Bank.

Telangana Government launched Grama Jyothi Scheme across the state

Andy Murray wins Rogers Cup Masters Tournament 2015

17/08/2015:

Taj Mahal becomes first monument in world to have Twitter account

HDFC to sell its 9 percent stake in HDFC life to JV partner Standard Life for Rs. 1700 Crore

Birla Corp to acquire Lafarge’s two Indian units for Rs. 5000 crore

Ajit Seth to head Public Enterprises Selection Board

Hero Cycles acquires leading UK-based Avocet Sports

Union Ministry of Home Affairs MHA to setup pan-India National Fingerprint Database

Badminton World Championship 2015: Saina Nehwal wins silver medal

16/08/2015 & 15/08/2015:

Narendra Modi announced a new campaign “Start-up India, Stand up India” during India’s 69th Independence Day. It is associated with Promoting banks to finance start-ups and offer incentives to boost entrepreneurship and job creation.

Two Indian siblings, 5-year-old Kandarp Sharma and 8-year-old Ritwika, became the youngest climbers to climb the Kalapathar peak in Nepal.

Indian badminton ace Saina Nehwal lost to World No.1 Carolina Marin (Spain) in the finals of the prestigious Badminton World Championships in Jakarta . Despite this loss, Saina became the first Indian to reach the final of Badminton World Championship.

Gujarat Govt declares ban on use of Plastic

Kerala Govt declares state as "Digital State"

Abhishek Verma wins gold medal in Archery World Cup

Tianjin the name of the Chinese port due to an inferno and two huge explosions resulting in the death

of at least 104 persons and hundreds still missing.

'Indradhanush' the name of the 7-pronged strategy announced by the Union
Finance Ministry that aims for comprehensive revamp of public sector
banks of the country.

Facts about Indradhanush Mission
The seven shades of Indradhanush mission include appointments, de-stressing PSBs, capitalisation, empowerment, framework of accountability and governance reforms. It seeks to achieve the objective of economic growth revival through improving credit and minimising the political interference in
the functioning of PSBs.
1. Appointments: Selection of non-executive chairman in remaining 6 state owned PSBs till November 2015. Appointing MD & CEO of two PSBs as early as possible.
2. Bank Board Bureau (BBB): It will be a body of ’eminent’ professionals to be selected within 6 months i.e. February 2015. It will become functional from Financial year 2016-17 i.e. form 1st April 2016.
3. Capitalisation: Infuse 25,000 crore rupees of capital into debt-laden banks in this fiscal in phased manner. Out of this 20,000 crore rupees would be injected in August 2015. Rest 5,000 crore rupees will be performance based allocation to be allocated in the last quarter of 2016.
4. De-stressing PSBs: To develop vibrant debt market for PSBs in order to reduce lending pressure on banks. Strengthen asset reconstruction of companies.
5. Empowerment: Provide greater flexibility in hiring of manpower in PSBs.
6. Framework of accountability: It will seek to streamline vigilance process for quick action in case major frauds and also include connivance of staff.
7. Governance reforms in PSBs: Next Gyan Sangam (also known as the Banker’s Retreat) will be held from 14 to 16 January 2016. Employee Stock Option Plan (ESOP) will be initiated for top management. Union Government to form Bank Board Bureau
i. Bank Board Bureau (BBB) to monitor key performance indicators of two dozen public sector
banks (PSBs), as part of a seven-pronged revamp plan for PSBs dubbed as Indradhanush (rainbow) plan. Facts about Bank Board Bureau
Bank Board Bureau (BBB) will start the functioning from next financial year i.e. from 1st April 2015 and the selection of its member will start in the next six months.
It will replace existing system Appointments Board in which appointments for top level jobs at PSBs are made by an appointments committee led by the Reserve Bank of India (RBI) Governor.
Composition: The BBB will be a body of ’eminent’ professionals and shall consist of only one government official. It will be six members body with at least 3 former bankers, 2 professionals and secretary, department of financial services representing government.
Functions: Give recommendations for appointment of full-time Directors as well as non-Executive Chairman of PSBs.
Give advice to PSBs in developing differentiated strategies for raising funds through innovative financial methods and instruments and to deal with issues of stressed assets.
Guide banks on mergers and consolidations. 14/08/2015:

The Reserve Bank of India (RBI) paid a dividend of nearly Rs. 66,000 crore to the government. This was the highest ever dividend paid by the RBI in its 80-year history. The Interest from Repo operations, coupon payments for holding govt. securities and interest incomes on its holdings of sovereign bonds are the main sources of RBI’s income.

The Insurance Regulatory and Development Authority of India (IRDA) announced It allowed banks to tie up with up to 9 insurance companies to change for Indian banks under the policy of open architecture Bancassurance policy.

O.P. Munjal, who passed away, was the founder and Chairman of Hero Cycles.

China’s currency Yuan’s value was devalued to its lowest rate against the US dollar in almost three years by China’s central bank . A day later China further lowered its “daily fix” of the Yuan. To make Yuan’s exchange rate more market-oriented and make Chinese exports cheaper was the primary objective of this depreciation.

RBI intervened by selling US dollars through PSU banks after Rupee’s value slid to almost 23-month low .

ISRO fully commissioned and started commercial production of its indigenous titanium sponge plant at Chavara (Kerala), with this India has become the seventh country in the world producing titanium sponge commercially.

North Korea’s vice premier 'Choe Yong Gon' was executed by firing squad this year. He was apparently executed for showing discontent with the policies of the country’s leader Kim Jong Un. What was the name of this North Korean vice premier.

SBI net profits for the first quarter of 2015-16 was Rs. 3,692 cr.

Indian Govt. signed a $ 308.40 million finance agreement with the World Bank for National Cyclone Risk Mitigation Project-II (NCRMP-II). It is associated with reducing vulnerability to cyclone and other hydro-meteorological hazards of coastal communities in which six states of the country - Goa, Gujarat, Karnataka, Kerala, Maharashtra and West Bengal.

In an important development in Nepal, country’s four major parties reached a landmark agreement on the contentious issues of federalism under the new constitution. According to the reached agreement, the country will be divided into Six provinces.

“School Nursery Yojana”, the name of the new initiative launched by the Union Environment Ministry to bring students closer to nature, by involving them in raising of saplings in nurseries created in schools.

According to the Right to Education (RTE) Forum, approximately Over 98,000 primary schools across the country are managed by single teachers for all the classes.

Chinese smartphone company Xiaomi announced its first manufacturing unit in India at Andhra Pradesh. Xiaomi’s first-ever “Made in India” smartphone “Redmi 2 Prime” was also launched on this occasion. This plant is established at Sri City in AP.

Indian economy is witnessing some early signs of survival, an important trend pertaining to Indian industrial scenario was reflected in a latest survey by the Confederation of Indian Industry’s Associations’ Council (CII ASCON).

Singapore observed 50th anniversary of its independence on 9 August 2015 with holding of numerous events across the country to mark the special occasion.

“Suraksha Bandhan”, is the name given to this special drive Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Global electronic manufacturing giant Foxconn, known for manufacturing iPhones for Apple Inc., signed agreement with Maharashtra government for investing over US$ 5 billion over the next five years.

Pramerica, mutual fund house acquired the asset management business of Deutsche Bank in India.

Atul Keshap, Indian-American diplomat was recently confirmed as the U.S. Ambassador to Sri Lanka and Maldives and thus became the second Indian-origin diplomat to be posted to the South Asian region after Richard Rahul Verma.

09/08/2015:

The Employees Provident Fund Organisation (EPFO) watershed event in the 64-year old history of India’s biggest pension fund .

NIYATAM, The NITI Aayog has started an initiative to engage the states of the Indian Union on six important issues pertaining to governance and finance. This includes the initiative to prune their administrative structure to improve their efficiency and governance.

Mysuru (Mysore) city topped in the Swachh Bharat Rankings of 476 cities in India, in a survey conducted during 2014-15 by the Ministry of Urban Development, results of which were disclosed.

Ram Nath Kovind (Bihar) and Acharya Dev Vrat (Himachal Pradesh) were appointed as the new Governors of Bihar and Himachal Pradesh.

Typhoon Soudelor name of the cyclonic typhoon that hit Taiwan and entered Mainland China.

National Handloom Day? – It was on 7 August in 1905 that the formal proclamation of the “Swadeshi Movement” was made at a massive meeting in the Calcutta Town hall.

The report sharply indicted the Congress state government during that time for abandoning its duty to control the riots in which more than a thousand people were killed. Satyendra Narayan Sinha was the Bihar Chief Minister during that time.

21.23% is the total forest cover in India as per recently released India State of Forest Report-2013.

“112” like '911' system of the United States, its note pertaining to Prime Minister Narendra Modi’s forthcoming Independence Day address to the nation, the Ministry of Information and Broadcasting (MIB) has sent a note about the proposed emergency response system (ERS) .

North Korean government on 7 August 2015 announced that it will establish its own time zone from 15 August by pulling back its current standard time by 30 minutes. Currently, local time in both Koreas and Japan are same and was set when the then single Korea was under Japanese colonial rule from 1910 to 1945. the reason given by the government for this change To root out the legacy of the Japanese colonial occupation period

A research group at IIT Bombay (IITB) recently established country’s first pilot test-bed to use unused TV spectrum to provide broadband Internet connectivity.

07/08/2015:

The Red Sea and the Mediterranean Sea, This new waterway thus became the third on the Suez Canal, which acts as the fastest link between Asia and Europe. Suez Canal connects.

Malaysia Prime Minister Najib Razak confirmed, the wing of this aircraft was found on Reunion Island of Indian Ocean.

The Union Govt. recently allowed allowed single-brand retailers to operate across multiple platforms to operate in the country.

Union Cabinet to improve the financial position of state-run Bharat Sanchar Nigam Limited (BSNL) It gave its ‘in-principle’ approval for hiving off BSNL’s tower assets into a separate company

The discovery that dopamine, which is known as a happy hormone, can also kill cancer tumours, has put two Kolkata-born scientists Partha Dasgupta and Sujit Basu one of the most significant medical discoveries ever.

PM Modi declares August 7 as National Handloom Day to mark Swadeshi movement.

Indian-American Atul Keshap confirmed Ambassador to Sri Lanka.

Colonel Harwant Singh (Retd), World War-II hero passes away.

Rajasthan signs MoUs for Rs 2,452-cr investments at the investment meet in New Delhi.

IS seizes central Syrian town of Qaryatain.

Egypt launches Suez Canal expansion.

Snapdeal appoints Amitava Ghosh as VP-engineering.

06/08/2015:

70th anniversary of the dropping of first atomic bomb on the Japanese city of Hiroshima is being observed on 6 August 2015.

Kamayani Express (Between Mumbai and Varanasi) and Janata Express (between Rajendra Nagar and Mumbai), Which trains were involved in this accident.

Tirumala Venkateshwara Temple or Tirupati Balaji Temple (Andhra Pradesh), opened up a Demat account to accept donations from devotees in the form of shares and securities.

“Navachara Kaksh”, innovation museum opened in the Rashtrapati Bhavan campus, which was inaugurated by President Pranab Mukherjee.

“S-Cross”, is the name of the new crossover vehicle launched by Maruti Suzuki.

India, Mozambique ink MoU to boost ties in New and Renewable Energy sector

End Poverty, Promote Prosperity and People’s well-being while protecting the Environment by year 2030 is the primary aim of the “17 Sustainable Development Goals” that form the crux of the new sustainable development agenda.

Union Govt. and the Naga rebels led by the National Socialist Council of Nagalim-IM (NSCN-IM) . The treaty was signed by Thuingaleng Muivah, General Secretary of the NSCN-IM in presence of Prime Minister Narendra Modi. This treaty thus brings to end the ongoing peace talks between the Naga rebels and the Union Government. These talks had started in 1997.

Union Govt. stepped back from the controversy surrounding the draft Indian Financial Code (IFC) as it disowned the draft. It was disowned as the government felt that do not reflect the government’s views. The main controversy associated with this draft was It seeks to dilute the RBI’s powers to regulate the foreign exchange and government bond markets and set monetary policy.

03/08/2015 & 02/08/2015:

S K Roy, Chairman LIC was elected as the new Chairman of the Life Insurance Council, the apex industry body of insurers in India.

Egypt and Saudi Arabia are two Arab countries proposed to work together to create a joint Arab military force with the objective of ensuring stability in the region.

Delhi state became the first in India to adopt a unique “Witness Protection Programme” so as to ensure protection of an eyewitness in crucial cases.

Union Govt. has earmarked Rs. 70,000 crore fund for country’s public sector banks (PSBs) over a period of four years .

India and Bangladesh at one minute after midnight of 1 August 2015 transferred exactly 162 such enclaves.

Tamil Nadu had the highest use of LPG among rural households during 2011-12, as data from the 68th round of the National Sample Survey (NSS) on fuel used for cooking and lighting. According to this data, 67.3% of rural population in the country still used firewood for cooking in 2011-12.

Kochi (Kerala) naval harbour became the first in the country to get the Integrated Underwater Harbour Defence and Surveillance System (IUHDSS), an automated system capable of detecting, identifying, tracking and generating warning for surface and underwater threats.

The new simplified “Guidelines Governing Adoption of Children 2015” notified by the Central Government came into effect from 1 August 2015, CARINGS (Child Adoption Resource Information & Guidance System) is the name of the fully revamped IT application for the purpose of adoption of children.

“Komen” is the name of the cyclone that resulted in heavy rains in West Bengal, Manipur, Odisha and other Eastern states of the country.

South Sudan became the latest and the 206th member of the Olympic family after the International Olympic Committee (IOC) approved its inclusion.

Pakistan became the first-ever non-European member of the European Organisation for Nuclear Research, better known as CERN.

India to host 2nd Forum for India-Pacific Islands Cooperation (FIPIC)

Folger appointed MD, CEO of Mercedes-Benz India

HDFC Bank has launched ‘Dhanchayat’, an educational film to raise awareness on the dangers of borrowing money from unorganised sources.

US country singer Lynn Anderson passes away

HDFC Bank ties up with Snapdeal for co-branded credit card

India women’s team wins silver in World Archery Championship

01/08/2015:

Beijing, city became the first city in Olympic history to be awarded both summer and winter Games after it was awarded the hosting of the 2022 Winter Olympics .